U.S. South Historical Valuation Snapshot

Highly Productive, Geographically Diversified Timberlands 2.8 MILLION TOTAL ACRES 61 413 PACIFIC NORTHWEST Acreage: 474k acres Sustainable Yield: 1.5 1.7mm tons NEW ZEALAND Acreage: 419k acres Sustainable Yield: 2.4-2.7mm tons Rayonier Note: Acres as of March 31, 2023. U.S. SOUTH Acreage: 1.91mm acres Sustainable Yield: 6.8 - 7.2mm tons 91 2 16 263 710 147 285 396 4 Investor Presentation | May 2023

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